Retirement Planning Group LLC NY Raises Stock Holdings in Chevron Corporation $CVX

Retirement Planning Group LLC NY lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 22.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,259 shares of the oil and gas company’s stock after purchasing an additional 416 shares during the quarter. Retirement Planning Group LLC NY’s holdings in Chevron were worth $324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. GAMMA Investing LLC grew its holdings in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares in the last quarter. West Branch Capital LLC grew its holdings in shares of Chevron by 30.6% during the first quarter. West Branch Capital LLC now owns 12,653 shares of the oil and gas company’s stock worth $2,117,000 after purchasing an additional 2,964 shares in the last quarter. Elevation Point Wealth Partners LLC grew its holdings in shares of Chevron by 3.4% during the first quarter. Elevation Point Wealth Partners LLC now owns 22,197 shares of the oil and gas company’s stock worth $3,713,000 after purchasing an additional 734 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Chevron by 2.2% during the first quarter. CVA Family Office LLC now owns 9,496 shares of the oil and gas company’s stock worth $1,589,000 after purchasing an additional 203 shares in the last quarter. Finally, Goldstone Financial Group LLC grew its holdings in shares of Chevron by 69.7% during the first quarter. Goldstone Financial Group LLC now owns 8,444 shares of the oil and gas company’s stock worth $1,413,000 after purchasing an additional 3,467 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $149.11 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a 50 day moving average price of $156.10 and a two-hundred day moving average price of $148.54. The company has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a PEG ratio of 1.92 and a beta of 0.84.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVX. Mizuho cut their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday. Scotiabank upped their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, UBS Group upped their target price on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and an average target price of $165.40.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.